Any good books on repairing credit and credit cards?
I’ve got a buddy who swears the gov’t is out to get him. His credit is in the dumps, yada yada. Well, I want to show him some personal finance stuff and help him out. BUT, I also want to give him something to READ about getting credit, repairing credit … and that the gov’t isn’t really out to get him. Silly, I know, but it’s partly to help and partly for fun. Suggestions?
Hmm… good question. If you want to know what the gov’t is up to on this topic, you need to learn about the credit reporting act. There’s info online but it’s hard to find. I mean, gov’t web sites and stuff.
I found this web site and book…
http://faircreditreportingactbook.com/
Sounds like it’s full details about what the gov’t officially wants us to know, but also some helpful hints and tips. No idea if it’s any good.
BTW, I like anything by David Ramsey. That dude knows personal finance!
Hmm… good question. If you want to know what the gov’t is up to on this topic, you need to learn about the credit reporting act. There’s info online but it’s hard to find. I mean, gov’t web sites and stuff.
I found this web site and book…
http://faircreditreportingactbook.com/
Sounds like it’s full details about what the gov’t officially wants us to know, but also some helpful hints and tips. No idea if it’s any good.
BTW, I like anything by David Ramsey. That dude knows personal finance!
References :
http://Yahoo and http://Google.com for the quick searches.
Tell your friend to keep paying off his debts. The fastest way to get out of debt is through what is called "Debt Stacking". Debt Stacking is a simple concept that does not require hiring an outside service such as a debt consolidation or debt management service. It works like this:
Calculate the total amount of money you have each month to pay towards your debts – don’t add up all your payments. Make the minimum payments on all your debts. If you can afford to pay a little more then pay the extra towards your highest interest loan first. Once that loan is paid off, shift the money you were paying to the previous loan towards the next highest interest loan. Continue to shift the money that you were paying towards the now paid off loans towards your current outstanding debt. Each time you do this you accelerate your pay-off rate and you will be out of debt before you know it.
The resource below has a wealth of information regarding credit, debt, credit counseling, etc.
References :
This site is totally free and has tons of information for your friend: http://www.creditwiki.net